Tetra Tech (NASDAQ:TTEK) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Tetra Tech (NASDAQ:TTEK) from a hold rating to a buy rating in a research report report published on Friday morning.

Several other equities analysts have also issued reports on TTEK. Robert W. Baird boosted their target price on shares of Tetra Tech from $44.60 to $46.00 and gave the company a neutral rating in a report on Thursday, August 1st. Royal Bank of Canada boosted their price objective on Tetra Tech from $46.60 to $51.80 and gave the company an outperform rating in a research note on Friday, August 2nd. Finally, KeyCorp raised their target price on Tetra Tech from $46.80 to $49.40 and gave the stock an overweight rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $49.16.

Tetra Tech Price Performance

Shares of NASDAQ:TTEK opened at $48.01 on Friday. Tetra Tech has a one year low of $28.67 and a one year high of $48.59. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.21 and a quick ratio of 1.21. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 9.72 and a beta of 0.94. The firm has a 50 day simple moving average of $46.29 and a 200 day simple moving average of $42.44.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.08 billion. Tetra Tech had a net margin of 5.72% and a return on equity of 21.50%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the business earned $0.26 EPS. Research analysts predict that Tetra Tech will post 1.25 earnings per share for the current fiscal year.

Tetra Tech Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.058 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.23 annualized dividend and a dividend yield of 0.48%. Tetra Tech’s dividend payout ratio is 4.66%.

Insider Buying and Selling

In other Tetra Tech news, CEO Dan L. Batrack sold 89,620 shares of Tetra Tech stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $45.54, for a total transaction of $4,081,653.28. Following the completion of the transaction, the chief executive officer now owns 124,380 shares in the company, valued at approximately $5,664,762.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tetra Tech news, CEO Dan L. Batrack sold 89,620 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $45.54, for a total transaction of $4,081,653.28. Following the transaction, the chief executive officer now directly owns 124,380 shares in the company, valued at approximately $5,664,762.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven M. Burdick sold 36,830 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total transaction of $1,715,173.10. Following the completion of the sale, the chief financial officer now owns 112,620 shares of the company’s stock, valued at approximately $5,244,713.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 236,370 shares of company stock worth $10,880,243 in the last ninety days. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of Tetra Tech

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Tetra Tech by 0.3% during the first quarter. Vanguard Group Inc. now owns 5,168,554 shares of the industrial products company’s stock worth $954,684,000 after purchasing an additional 14,701 shares during the period. Sarasin & Partners LLP raised its holdings in Tetra Tech by 2.6% during the 1st quarter. Sarasin & Partners LLP now owns 1,253,981 shares of the industrial products company’s stock valued at $231,623,000 after acquiring an additional 32,053 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Tetra Tech by 27.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 677,130 shares of the industrial products company’s stock worth $138,459,000 after acquiring an additional 144,706 shares during the period. Ninety One UK Ltd purchased a new position in shares of Tetra Tech in the second quarter valued at $135,897,000. Finally, LGT Group Foundation raised its stake in shares of Tetra Tech by 7,481.7% during the 2nd quarter. LGT Group Foundation now owns 491,444 shares of the industrial products company’s stock valued at $100,490,000 after purchasing an additional 484,962 shares during the period. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Company Profile

Tetra Tech, Inc provides consulting and engineering services in the United States and internationally. The company operates through two segments, Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project management, and operations and maintenance services; and climate change and energy management consulting, as well as greenhouse gas inventory assessment, certification, reduction, and management services.